Marimaca infill drilling extends copper oxide mineralisation at the MOD

The first drill holes were completed in the south-eastern area of the MOD in an area previously considered to be on the margin of the near-surface oxide copper mineralisation.

The drilling intersected broad zones of near-surface green copper oxide mineralisation in six out of seven holes. Importantly, several zones appear to be extensional to the existing Mineral Resource Estimate (MRE) (released December 2019) for the MOD, and the interpretation of the new mineralised intersections indicates that the MOD remains open at depth and to the south-east, indicating potential upside with ongoing drilling in this area.

Highlights

• Expected mineralisation encountered in six out of seven holes with grades often exceeding those modelled in MRE.
• MAR-134 and MAR-132 extend mineralisation into areas previously interpreted to be barren or lower-grade.
• Expected to have positive implications for the updated MRE.
• Notable intersections include:
  • MAR-134 intercepted 106 m of 0.53% CuT from 2 m, including 28 m of 1.05% CuT from 72 m.
  • MAR-132 intercepted 54 m of 0.62% CuT from 80 m and a high-grade feeder structure of 20 m at 1.62% CuT from 278 m at the bottom of the hole, all within a broader intercept of 226 m of 0.43% CuT from 72 m.
  • MAR-135 intercepted 58 m of 0.41% CuT from 2 m.
  • MAR-131 intercepted 202 m of 0.31% CuT from 42 m, including 74 m of 0.47% CuT from 162 m.
  • MAR-133 intercepted 76 m of 0.26% CuT from 156 m.
  • MAR-129 intercepted 58 m of 0.27% CuT from 68 m.
  • MAR-130 intercepted lower grade copper mineralisation corresponding to leached and fractured rocks along a known late fault zone.
• Drilling continues to highlight the lateral continuity, as well as the thickness of the MOD mineralised column, in addition to ongoing potential for extensions at depth.
• The MOD remains open to the southeast towards the Sierra satellite target, located 400 m southeast from the margin of the MOD.

Sergio Rivera, VP Exploration of Marimaca Copper, comments:

“The first seven drill holes were aimed at infilling an area in the south-eastern corner of the MOD that was interpreted in previous as lower grade material and was considered to mark the limits of copper oxide mineralisation. We were pleasantly surprised with the results, which show significant mineralisation in nearly all of these holes.

“There are two important takeaways from today’s results: firstly, there remains potential resource upside at the MOD, demonstrated by the first holes from the infill program, where several intersections had grades well above those interpreted in the 2019 MRE. Secondly, the results provide confirmation that the MOD remains open to the south-east towards the Sierra Target and at depth. The Sierra Target was hypothesised as an extension of the MOD and these results support that conclusion, which provides an exciting opportunity for further resource growth.

“The infill program will now progress north towards the central part of the MOD targeting conversion of our existing Inferred Resources to Measured and Indicated categories.”

Read the article online at: https://www.globalminingreview.com/mining/29032022/marimaca-infill-drilling-extends-copper-oxide-mineralisation-at-the-mod/